Versatile Mixed-Use Building
33 N Saginaw St Pontiac, MI 48342
33 N Saginaw St, Pontiac, MI, 48342
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For Sale
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Mixed-use property with office space and residential potential.
Property Size7,500 SF
Price / SF$66.67
Days on Market685
Property Features for 33 N Saginaw St
General Information
- Standard status
- Active
- Size
- 7,500 SF
- Property subtype
- Office, Retail
Listing agency
Pike Street Properties
Listed by
Loren Guzik · License #481-012651
Source
Crexi
Added: Sep 5, 2024 Updated: Jul 6 at 7:52AM Checked: Jul 21 at 10:19AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Pike Street Properties
Investment Insights
Based on property information with market context.
Located in the heart of the city, this mixed-use property at 33 N Saginaw presents a versatile opportunity for investors. The main floor is currently configured as a functional office space, suitable for immediate rental income or business operations. The building was gutted in 2018 and features new mechanical systems. The second and third floors are ready for transformation, with existing mechanicals and new construction in place. The upper floors are primed for the addition of new finishes to create an apartment on the second and third floors, with the possibility of a private rooftop deck. This well-maintained building offers the potential for a living space or a rental property.
Key Highlights
- Prime location in the heart of the city.
- Significant income potential with existing functional office space on the main floor.
- Upper floors gutted in 2018 with new mechanicals installed, ready for customization.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $45.0k | $6.00 |
| − Vacancy | −$10.6k | −$1.41 |
| EGI | $34.4k | $4.59 |
| − OpEx | −$8.6k | −$1.15 |
| NOI | $25.8k | $3.44 |
7,500 SF · lease $6.00/SF/yr · vacancy 23.50% · expense 25.00%
Alternative Uses
Best Use
Apartment 5plus
$1.31M
$1.15M – $1.53M
NOI $91,997 @ 7.0% cap · market cap 18.40%
Second Best
Mixed Use
$1.08M
$949.2K – $1.27M
NOI $75,938 @ 7.0% cap · market cap 15.19%
Theoretical Best
Specialty Retail
$1.62M
$1.42M – $1.89M
NOI $113,238 @ 7.0% cap · market cap 22.65%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
The Next Education
Training Center
Performance Roof Systems ...
Roofing Company
Herbert & Rhen PC
Accounting Firm
Bestrate Mortgage
Loan Service
Washington Events LLC
Marketing & Advertising
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FAQs
What type of property is this?
Mixed-use property - Mixed-use property with office space and residential potential.
Where is this mixed-use property located?
The property is located at 33 N Saginaw St Pontiac, MI.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Prime location in the heart of the city.; Significant income potential with existing functional office space on the main floor.; Upper floors gutted in 2018 with new mechanicals installed, ready for customization.
